Consider the Market for Corn

question 158

Essay

Consider the market for corn.What happens if there is an increased demand for corn tortillas and at the same time a new corn seed becomes available that dramatically increases the
per-acre yield?
A.Price and quantity decrease.
B.The change in price is indeterminate; quantity increases.
C.Price increases; the change in quantity is indeterminate.

---

Definitions:

Idea Box

A tool or system used to collect suggestions and ideas from employees or members of an organization for improvement or innovation.

Enlisting Troublemakers

A strategy of engaging individuals who may initially resist change or challenge norms, utilizing their perspectives or energy positively within organizational contexts.

Postponing Action

Delaying or deferring an activity or decision to a later time.

Clear

Easily understood, free from confusion or ambiguity.